- Introduction -
- Wealth-Home was founded in Cleveland OH by Abena Wealthy, Zigah Davidson and Maxwell Akenten in 2019 to serve under privilege communities and to make real estate investment opportunities accessible to individual or private investors.
- We specialize in flipping distressed single-family and Multi houses under $1 million because of their high demand. These homes have great potential for added value and easy refinancing options after repair.
- Your Team -
- Zigah Davidson…….
- Maxwell Akenten ……
- Abena Wealthy
- Problem -
- Many Americans are struggling to pay rent. The Section 8 program is one of the largest—and oldest—government programs aimed at helping people find affordable housing by issuing vouchers to eligible renters that they can use to pay their rent.
- According to the latest statistics, Section 8 assistance is provided by the Housing Authority to approximately 3.3 million low-income families, the elderly, and the disabled in the U.S
- Out of the 4.8 million households receiving housing assistance, 2.1 million households receive housing vouchers.
- 3 million households rent residences in Section 8.
- Families stay in the section 8 program for an average of six years.
- Most eligible households only consist of two members, on average.
- 43% of families in section 8 housing are families with children.
- 42% of these families with children have a female head of household
- 43% of households that participate in Section 8 have at least one disabled family member.
- While there are millions of Americans already receiving housing benefits, hundreds of thousands are on a waiting list to receive aid.
- Solution -
- Our goal is to help communities by converting distress properties to B to A class properties to improved deprived communities and to put more American in a better home.
- Before initiating a purchase, our experts identify the property’s potential for transformation.
- Our experts estimate the cost of renovation/construction in comparison to the anticipated sale price, to ensure a profitable result and a sizeable margin.
- Each house is unique, so we look for ways to add the most value based on the individual property’s needs.
- All houses go through extensive interior and exterior renovations, as well as landscaping and hardscaping.
- We work with some of the best contractors for renovations, redesign, layout, and color combinations.
- Due to the size of our construction team, we can delegate our workers to different areas simultaneously, allowing us to complete projects in remarkable time.
- Business Model -
- To bring you the most lucrative house flip investment opportunities, Wealth-Homes follows market trends closely and we are always on the search for new deals. We want to keep you in the loop on potential investments as we find them.
Our projects follow three investment stages:
1. Coming soon
- Coming soon investments offer you a sneak peek at deals we will be offering in the future. You can view the property description and estimated financials for projects that will be coming available in the future. You will be notified once these opportunities are open for investment.
2. Pre-investment
- The pre-investment stage allows you to reserve a spot in an upcoming project while we are bidding on the next deal. There is no cost to hold a spot, no wire transfer is required, and you are under no obligation to activate the investment once a property is secured.
- Some investments fill up quickly, so it’s best to reserve your spot at the pre-investment stage whenever possible.
- Pre-investments also help us to understand what types of investments you’re most interested in, so we can focus on finding those deals. We will determine what project to open next based on the pre-investment amounts raised.
- At the pre-investment stage, you’ll be able to view the estimated return percentage, time frame, and financials based on our track record of completed properties. Once a property has been selected, the return percentage, time frame, and financials will be updated to reflect the specific property, and the status will change to Open Investment. Investors who reserved a spot during the pre-investment stage will be notified via email when the project is open for investment, and you will have five business days to complete the wire transfer to activate your investment.
3. Open investment
- Open investments are ready to accept funding today.
- Open investments start with Wealthy Homes creating an LLC to buy the property, putting down the required deposit, and getting the property under contract. We then offer the investment opportunity for up to 60 days or until the project is fully funded close the investment opportunity.
- To place an investment, simply select the amount you wish to invest. You will have five business days to complete the wire transfer to activate your investment. You can then track the status of your investment from start to finish directly from your investor dashboard. You will receive a legal certificate to confirm your status as a member of the LLC that owns the particular property in which you invested. This certificate will also confirm the number of shares you own.
- Your Vision -
- We are pleased to invite you to invest alongside Wealth REI Investment and benefit from our experience through rare opportunities in the lucrative real estate market. Our mission is to provide flexibility, transparency, and accessibility to the real estate investment industry in a way it has never been done before.
- Time frame -
- A fix and flip project is approximately a 4- to 12-month investment. The timeline starts the day we open escrow, followed by purchasing, designing, permitting, renovation, and ends the day we close sale escrow. After that, the accounting team will calculate the profit and disburse the money to the investors within 10 business days.
- Financial -
- The minimum investment requirement can vary for each house, starting at $20,000. Each investment opportunity has a different estimated return percentage and service fee. Choose a property that interests you and click “View details” to see the financial breakdown.
- Security
- All properties are held through an LLC. Wealthy Homes acts as the managing member and owner of Class B Units in the LLC (and has all voting rights), and the investors are the members and owners of Class A Units in the LLC. As a holder of Class, A Units, you have an indirect economic interest in the single real property asset held by the LLC, and the number of Class A Units issued to you is based on the amount you invest and the value of the equity in the underlying property at the time of investment.
- Why Wealth-Homes-
- High returns:
- Annualized returns ranging from 10-26.5%. This is largely because of Wealth Homes proprietary software, automation, and proven business model we have developed over the years. Our projects are completed quickly and affordably. This efficiency leads to higher-than-normal returns.
- Deal-by-deal control:
- Our projects are offered on a deal-by-deal basis, putting you in complete control of which properties you invest in. Before you invest, you’ll have access to the property details (including the address), financial breakdown, and a full description of what we are doing to maximize the value of the property.
- Flexible terms:
- Choose from real estate investments ranging from six months to five years. We even offer the option to continue your renovation or development investment into a long-term rental investment once the property is stabilized. This flexibility allows you to tailor a real estate portfolio that meets your personal goals.
- Comparatively low minimum investments:
- Own a piece of estate for as little as $20,000. Because of the systems Wealthy Homes has in place, we can pool money from multiple investors to offer comparatively low minimum investments.
- Valuable deals:
- Our industry connections allow us to locate deals with the greatest potential. Some of our acquisitions come from auction, some from broker relationships, and some are even off-market. Many of our projects would traditionally only be available to elite real estate investors using their connections to find deals that would have been inaccessible to the average investor. But with our innovative systems, Wealthy Homes has made these deals available to the public.
- Experienced professionals:
- Our team has successfully completed hundreds of real estate deals. By leveraging our experience, you automatically avoid the pitfalls of most real estate investors. From brokers to contractors and analysts to architects, our professionals are the best in the industry. You get to benefit from the experience, knowledge, and skill of some of the most accomplished experts in the market.
- Security:
- Personal Guarantee
- Promissory Note from LLC
- Investors are added to as Additional Insured
- Investors are added as a Lien Holder
- Transparency:
- Wealth-Homes offers complete transparency into our full track record. We allow all investors to view the financial details for every completed property.
- Easy-to-use online platform:
- You can invest quickly and securely from your computer or smartphone from anywhere. (Under construction)
- Projections for investors -
| Asset Class | Wealth-Home | Stocks | Commercial | Bonds | Gold | CDs
| High Cash Yield | Yes | — | Yes | Yes | No | No
| Low Volatility | Yes | No | Yes | Yes | No | Yes
| Equity Build Up | Yes | Yes | Yes | No | No | No
| Leverage | Yes | No | Yes | Yes | Yes | Yes
| Hard Asset | Yes | No | Yes | No | Yes | No
| Inflation Hedge | Yes | No | Yes | No | Yes | No
| Tax Advantage | Yes | No | Yes | Yes | No | No
| Avg Annual Return* | 26.5% | 12.0% | 8.0% | 6.4% | 6.5% | 2.6%
Project that needs funding
Address: 8322 S Muskegon Ave, Chicago, IL 60617
Type: 2 units
Asking price: $99,000
Beds: 4
Baths: 2
Sq feet: 1922
lot size 3750 sq feet
Garage: 2 car garage
Basement: unfinished can be finished to add beds and full bathroom.
Year built: 1919
After rehab value: $250,000
Rehab: Good condition needs minor cosmetic rehab
Occupancy: 1st floor vacant, 2nd floor rented month to month at 750 per month
Rents for up to $2600 per month after rehabbed with finished basement
Click here for pictures
https://photos.app.goo.gl/TwJFQAgV6DVahdHm6Taxes: $1301 per year
P2Address: 8109 S Justine St, Chicago, IL 60620
Type: Brick Bungalow
Asking price: $125,000
Beds: 4
Baths: 2
Sq feet: 1155
lot size 4000 sq feet
Garage: 2 car garage
Basement: Finished needs a total rehab
Year built: 1917
After rehab value: $300,000
Rehab: cosmetic rehab. Basement needs a total rehab.
Occupancy: Vacant
Rents for up to $1700 per month after rehabbed
Click here for pictures
https://drive.google.com/drive/folders/1XirZwQ05L85h5sYgJaCkJR1gIWEhG2SK?usp=sharingTaxes: $2240 per year
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